“There’s never been a shortage of opportunities,” Jackson says of acquisition targets.

“Over the years we’ve probably looked at 30 or 40 potential acquisitions every year, for five years. It’s a question of whether we can match our perception of value [with] theirs . . . enough to go through the effort of a deal.”

The comments come after Rubik snapped up COIN in July. The acquisition was completed in August and cost $23.75 million. The deal was funded through a mixture of cash and bank debt.

The technology company, which has a market cap of around $23 million, also appointed former Asgard boss Wayne Wilson as head of COIN in August.

The federal government’s sweeping FOFA reforms, which take effect from July next year, could herald another chapter of growth for the company, Jackson says.

COIN is now FOFA ready, the company says, after adding improvements to fee disclosure uncertainty and reporting, among others.

But Rubik will continue to keep a close eye on the regulatory – and technology – requirements by financial planners as they work through the raft of incoming changes.

“That’s where [there are] some of the capabilities our customers want,” Jackson says. “We’ll make that decision on how to add capabilities as we go forward. Sometimes we buy them, sometimes we build them, and sometimes we . . . joint venture.”

Rubik was formed in 2007 to roll out pay-as-you-go software systems for banking institutions. It reported a net loss of $788,000 for the year to June. The result was an improvement from the $1.367 million loss from the same time in 2011.

The company’s main product is the Bank-in-a-box, a cloud-based core banking service.

Rubik chairman Craig Coleman says in a report to investors that all of the group’s software products recorded higher revenue and are “now making a profitable contribution” to the company’s results.

“Adjusting for one-off transaction costs relating to our acquisition of COIN, the company made a small underlying profit,” he says.